R7A1-Adopt Final Ad Valorem Millage General Operating-Debt Service MillageCOMMISSION ITEM SUMMARY
Condensed Title:
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH,
FLORIDA, ADOPTING: 1) THE FINAL AD VALOREM MILLAGE OF 5.7942 MILLS FOR GENERAL
OPEMTING PURPOSES, WHICH lS THIRTEEN AND FOUR-TENTHS PERCENI (13.4o/o) MORE THAN
THE "ROLLED-BACK" RATE OF 5.1076 MILLS; AND 2) THE DEBT SERVICE MILLAGE RATE OF
0,2295 MILLS
lntended Outcome
Ensure expenditure trends are sustainable over the long term
Supporting Data (Surveys, Environmental Scan, etc.):
ln the 2014 Community Survey, both residents and businesses reported the following area for the City
related to value for taxes paid:. Percentage of residents rating the Overall Value of City services for tax dollars paid as excellent or
qood (Residents: 58%; Businesses 54%)
Item Summary/Recommendation :
The Administration is recommending a total combined millage rate for the City of Miami Beach o'f 6.0237,
which represents a decrease of 0.0926 mills. The tentatively adopted operating millage decreased 0.0692
mills and includes a general operating millage rate of 5.7942 and a General Fund Capital Renewal and
Replacement millage of 0.1083. The tentatively adopted voted debt service millage rate is adjusted from
O.25291oO.2295, a decrease of 0.0234 mills. The tentativelyadopted millage rate decrease of 0.0926 mills
represents aoproximatelv half of the remainino millaqe rate reduction goal of 0.2079 and does not result in
a orooertv tax increase to median or averaqe propertv owners that qualifv for the homestead exemption
and the Save Our Homes cap.
The tentatively adopted combined millage rate of 6.0237 mills is 0.0926 mills less than the 6.1163
combined millage rate for FY 2013114. The tentatively adopted operating millage of 5.7942 mills for FY
2014115 is 0.6866 mills more than the rolled-back rate of 5.1076, and thus, the City is required to publish a
Notice of Tax lncrease. The tentatively adopted operating millage rate of 5.7942 requires a majority
approval (4of 7 votes)of theCommission.
Finance &Committee on July 16'", August 13'", and August 29"' 2014
Financial lnformation:
Source of
Funds:
Amount Account
1
2
OBPI Total
Financial lmpact Summary: lncluding the tentatively adopted millage rate for FY 2014115, the City has
decreased the millage by 0.4213 mills in the last four years and combined millage rates today remain more
than 2.6 mills lower, or 31 percent, than in FY 1999/00 and approximately 1.6 mills lowerthan in FY
2006107. As a result, the tentativelv adooted oropertv tax lew is aooroximatelv $13 million less in FY
2014l15 than it was in FY 2006/07.
AGEITBA mem fl7Alts MIAMIBTAf,H B^va q'97y83
g MIAMIBEACH
City of Miomi Beoch, 1700 Convention Cenler Drive, Miomi Beoch, Florido 33139, www.miomibeochfl.gov
COMMISSION MEMORANDUM
DATE: September30,2014
BEACH, FLORIDA,, ADOPTING: 1) THE FINAL AD VALOREM MILLAGE OF 5.7942
MILLS FOR GENERAL OPERATING PURPOSES, WHICH IS THIRTEEN AND FOUR.
TENTHS PERCENT (13.4yo) MORE THAN THE "ROLLED-BACK', RATE OF 5.1076
MILLS; AND 2) THE DEBT SERVICE MILLAGE RATE OF 0.2295 MILLS
ADMINISTRATION RECOMMENDATION
The Administration recommends that the City Commission adopt the attached Resolution which
sets the following:
1) Final Millage Rates for FY 2014115:
General Operating 5.6859 mills (5.7551FY 2013114,0.0692 decrease)
Capital Renewal& Replacement 0.1083 mills
Sub-Total Operating Millage 5.7942 mills (5.8634FY 2013114,0.0692 decrease)
Voted Debt Service 0.2295 mills @.2529 FY 2013114.0.0234 decrease)Total 6.0237 mills (6.1163 FY 2013114,0.0926 decrease)
2) The final combined millage rate of 6.0237 mills is 0.0926 mills less than the 6.1 163 combined
millage rate for FY 2013114. The final operating millage of 5.7942 mills for FY 2014l15 is
0.6866 mills more than the rolled-back rate of 5.1076, and thus, the City is required to publish
a Notice of Tax lncrease.
The "Rolled-Back" millage rate for FY 2014115 is the millage rate required to produce the same
level of property tax revenues in the General Fund in FY 2014115 as anticipated to be received in
FY 2013114. lt is important to note, that the January 1,2013, tax roll Citywide declined by almost
$1.02 billion (4.1o/o) between the July 1,2013 valuation and the July 1,2014 valuation due to
appeals, adjustments, etc, which is part of the reason the FY 2014115 "rolled-back rate" is 0.6866
mills lower than the FY 2013114 current millage rate and lower than it would be if the rolled-back
rate was only adjusted for the increase in revenues generated by higher property values. The area
outside of City Center RDA, which impacts General Fund revenues, declined in value by
approximately $0.24 billion during the same period of time.
The Administration is recommending a total combined millage rate forthe City of Miami Beach of
6.0237. The total final operating millage decreases to 5.7942 mills, which includes a General
Operating millage rate of 5.6859 and a General Fund CapitalRenewaland Replacementmillage of
0.1083. The finalvoted debtservice millage rate is adjusted fromO.2529 to 0.2295, a decrease of
0.0234 mills.
84
FY 2014115 Final Millage
September 30,2014
Page2
The final adopted millage rate provides funding in the proposed budget to partially offset the
following:
o 3 percent Cost of Living Adjustment (COLA)
o 2 percent merit increases for employees to their maximum of pay ranges. I percent increase in Health lnsurance and 7 percent increase in Dental lnsurance. 3.9 percent increase in internal service charges. $2.1 million in program and service levelenhancements
PROCEDURE
Florida Statutes 200.065 requires that at the conclusion of the second public hearing on the final
proposed tax rate and budget, the City Commission proceed in the following specific manner:
1. Adopt an ad valorem millage rbte for FY 2013114 operating purposes. The statute requires
the name of the taxing authority, the "Rolled-Back" rate, the percentage increase or
decrease over the "Rolled-back" rate, and the millage rates be publicly announced before
adoption of the millage levy resolution.
State statute requires that only the title be read aloud.
2. Adopt a general operating budget for FY 2013114. Also included, are budgets for the
Enterprise and lnternal Service Funds. This is accomplished by adopting a companion
Resolution. (See accompanying City Budget Agenda ltem).
SUMMARY
ln FY 2010111 the city's approach to addressing the then deficit of $32 million included a
distribution of the shortfall between taxpayers and employees. Taxpayers had their tax rate
increased from 5.6555 to 6.2155, an increase of 0.56 mills. The goal of the Commission has been
to bring them back to that level as property values increase over time. lt should be remembered
that between FY 2009/10 and FY 2010/11 values declined by $Z.O billion driving the need for an
increase in the millage.
!n FY 201 1l12the City took its first step in that direction with a reduction in the millage rate of 0.05
mills. The millage rate for FY 2012113 reduced the operating millage by an additional 0.0746 mills.
ln the FY 2013/14 budget, the millage rate was reduced 0.2275 mills. Over three years, this
reduction represents 63 percent of the goal to get back to a millage rate of 5.6555. The remaining
goalfor millage reduction is 0.2079.
The Administration is recommending a total combined millage rate for the City of Miami Beach of
6.0237, which represents a decrease of 0.0926 mills. The final operating millage decreased
0.0692 mills and includes a generaloperating millage rate of 5.7942 and a General Fund Capital
Renewal and Replacement millage of 0.1083. The final voted debt service millage rate is adjusted
from0.2529 to 0.2295, a decrease of 0.0234 mills. The final millage rate decrease of 0.0926 mills
represents approximately half of the remaining millage rate reduction goal of 0.2079 and does not
result in a property tax increase to median or average property owners that qualify for the
homestead exemption and the Save Our Homes cap.
85
FY 2014115 Final Millage
September 30,2014
Page 3
It is important to remember that in prior years, the City of Miami Beach significantly reduced tax
rates as property values increased. Between FY 1999/00 and FY 2009110, total combined City of
Miami Beach propertytax rates declined approximately2.S mills. ln FY 2007lOB alone, the millage
rate declined by approximately 1.8 mills, with annual savings to the average homesteaded property
of over $400. Further, despite an adjustment of 0.56 mills in the operating tax rate in FY 2010111,
City of Miami Beach final combined millage rates today remain more than 2.6743 mills lowerthan in
FY 1999/00 (31 percent), and 1.6493 mills lower than 2006/07 (21.5o/o).
ANALYSIS OF PROPERTY VALUES IN MIAMI BEACH
On July 1,2014, the City received the "2014 Certification of Taxable Value" from the Property
Appraise/s Offlce stating that the taxable value for the City of Miami Beach is $27.1 billion including
$152.2 million in new construction. The preliminary 2014 value represents an increase of $2.4
billion or 9.9 percent more than the July 1 ,2013, Certification of Taxable Value of $24.6 billion and
an increase of 9.3 percent, excluding new construction.
The comparative assessed values for the Miami Beach Redevelopment Agency City Center
redevelopment district increased from $3.9 billion to $4.2 billion an increase of $315 million or an
8.1 percent increase over 2013 certified values. ln addition, assessed values within the geographic
area formerly known as the South Pointe redevelopment district increased from $3.9 billion to $4.3
billion an increase of $413 million, or a 10.5 percent increase in values over 2013 certified values.
As a result, taxable values in the areas outside the City Center RDfuSouth Pointe area increased
by 10.2 percent, from $16.9 billion to $18.6 billion, an increase of $1.7 million.
Citywide values excluding City Center increased from $20.8 billion to $22.9 billion, an increase of
$2.1 billion or 10.3 percent. Values outside the City Center area determine General Fund
revenues.
COMPARATIVE ASSESSED VALUES (in billions)
Jon. 'l 20'! 3 Volue (in billionsl
% Cho
Jon. 1,2014
Volue (in
billionsl
Chonge from 20,l3
Volue lBudqetl
As of July I
20r 3
(For FY
2013/14
Budoetl
Revised
Volue (For
FY
2013/1 4
Prolection)
Chonge in
201 3
Volues
As of July I
201 3
lFor 2014/15
Budqetl
$
(in billions)%Cho
tDA - City Ctr $ 3.8714 $ 3.6341 $ (0.2323)4.1"1 $ 4.1 867 $ 0.31s3 8.17,
louth Pointe 3.9r 48 3.7692 10.14561 -3.7"/,4.3275 $ o.ttzt 10.57,
3enerol Fund excl
S.Pte
16.8703 16.2351 lo.634el -3.87,18.5942 $ 1.7235 10.2"/.
lotol Citywide $ 24.6s65 $ 23.6387 (r.0r z8)-4.17,$ 27.1O8t $ 2.4519 I _9"/,
Citywide Net ot
3itu Center $ 20.2851 $ 20.004($ (0.2805)-3.87,$ 22.9217 $ 2.',| 36(10.3"/,
86
FY 2014115 Final Millage
September 30,2014
Page 4
DETERMINING THE OPERATING MILLAGE LEVY
The first building block in developing a municipal budget is the establishment of the value of one
mill of taxation, wherein the mill is defined as $1.00 of ad valorem tax for each $1,000 of property
value. For the City of Miami Beach, the value for each mill is determined by the 2014 Certification
of Taxable Value and has been set at$27.1 million. Florida Statutes permit a discount of up to five
percentforearly paymentdiscounts, delinquencies, etc. Therefore, the 95 percentvalue of the mill
is $25.7 million. Net of Center City RDA tax increment available to the General Fund, the value of
one mill at 95 percent is $22.0 million.
IMPACTS OF CHANGES IN PROPERTY VALUES
The FY 2013114 operating millage rate for general City operations was 5.8634 based on July, 2013
Certification of Taxable Value. Based on the July 1 ,2014 Certification of Taxable Value, 5.8634
mills would generate approximately $t65.1 million at 100o/o collection ($1SO.g million at 95%
collection) in general tax revenues, an increase of $14.3 million at 100% collection ($19.0 million at
95% collection) over FY 2013114 property tax revenues Citywide (General Fund, City Center RDA
and the South Pointe area). The General Fund property tax revenues would increase by $t t.g
million, if the FY 2013114 millage rate was maintained.
Further, the January 1,2013 tax roll Citywide declined by $t.02 billion (4.1Yo) between the July 1,
201 3 valuation and the July 1 , 2014 valuation due to appeals, adjustments, etc., which is part of the
reason that the FY 2014115 "rolled-back rate" is significantly less than the FY 2013/14 current
millage rate.
STATE LEGISLATED OPERATI NG MILLAGE REQU I REM ENTS
Pursuant to recently enacted State legislation, the City may elect to approve millage rates above
the roll-back rate up to the constitutional cap of 10 mills subject to the following votes by the
Commission or referendum:
. Option l: A majorityof the approvalof the Commission Millage is required to approve a millage
up lo 7 .2121 (equivalent to 3.15 percent increase in property tax revenues). The 3.15 percent
increase is the state per capita personal income gain for the prior calendar year.
. Option l!: A two-thirds approval (5 of 7 votes) of the Commission is required to approve a
millage up to 7.9333 (equivalent to a 10% increase in the ad valorem revenues above Option l).
. Option lll: A unanimous approval of the Commission or referendum is required to approve a
millage above 7.9333 up to the 10 mill cap
The final operating millage rate of 5.7942therefore requires a majority approval (4otT votes) of the
Commission.
DETERMINING THE VOTED DEBT SERVICE MILLAGE LEVY
ThegeneralobligationdebtservicepaymentforFY2Ol4l15isapproximately$5.9million. Based
on the July 1 ,2014 Certified Taxable Value from the PropertyAppraiser, these bonds would require
thelevyof avoteddebtservicemillage of 0.2295 mills.Thisrepresentsadecreaseof 0.0234mills.
87
FY 2014115 Final Millage
September 30,2014
Page 5
COMBINING THE OPERATING AND VOTED DEBT SERVICE MILLAGE LEVY
At the July 23,2014 Commission meeting, the Commission set the operating millage at the same
level as FY 2013114 and the voted debt service millage decreased by 0.0234 mills. This represents
a total decrease in the operating millage rate of 0.0234 mills.
On August 29th, the Finance and Citywide Projects Committee voted to reduce the operating
millage rate an additional 0.0692 mills for a combined millage rate reduction of 0.0926 mills
compared to FY 2013114.
The combined millage rate reduction of 0.0926 mills was tentatively adopted by the City
Commission at the first public hearing on September 10, 2014.
lllustrated below is a comparison of the combined millage rates and ad valorem revenues to the
City of Miami Beach for FY 2013114 and FY 2014l15, including RDA. lt is recommended that in the
General Fund, 0.1083 mills of the totaloperating millage continue to be dedicated to renewaland
replacement, resulting in approximately $2.18 million in renewal and replacement funding. The
final millage rate is 1.5% less than FY 2013114 and 21.5o/o less than FY 2006107.
%lncl(Decl
City of Miami Beach Millage Rates
Operating
Capital Renewal & Replacement
Sub-total Operating M illage
Debt Service
Total
FY 06/07
7.192C
0.182C
FY 13/14
5.7551
0.1083
rrom From
FY13t14 FY 06/07
73744
0.299C
5.8634
0.2529
Vfffirifr?e= 'o.o6e2
Irllig;SlS: -0.0234
-1 .2o/o -21 .4o/o
-9.3% -23.2%
7.6734 6.1163 : s.0237. -0.0926 -1.5% -21.5Yo
IMPACT OF PROPOSED MILLAGE ON PROPERW OWNERS
Homesteaded Properties
Amendment 10 to the State Constitution took effect on January 1 , 1995 and limited the increase in
assessed value of homesteaded property to the percentage increase in the consumer price index
(CPl) or three percent (3%), whichever is less. For 2Q14, the CPI has been determined to be 1 .5
percent and therefore, the increase is capped at 1.5o/o for increased values as of January 1,2014.
Overall, based on the homesteaded properties in the January 1,2013 homestead values as of July
1,2013 valuation, the median value of homesteaded property in Miami Beach for 2013 was
$132,371, and the average $317,086. Applying the increase to the market value of all existing
homesteaded properties from the 2013 tax roll, and the 1 .5 percent CPI adjustment, the impact of
the millage rate adjustment to homesteaded properties would be no increase in property taxes as
shown in the following table.
88
FY 2014115 Final Millage
September 30,2014
Page 6
Homesteaded Properties
FY 2013114
Ft 20L4ltS
with 1.5% CPI
Median Averaqe Median Averaoe
2013 Prcliminary Taxable Value s 132.371 3 317.086 3 134.:]57 g 32',t.U2
City o, Miami Beach
Operating
Voted Debt
Total Miami Beach
$ 776
33
$ 1,859
80
$ 778
31
$ 1,865
74
$ 80s $ 1,939 $ 809 S 1.939
I Change ln Taxes
Operating
Voted Debt
Total Miami Beach
s 2J
l2l
5
l6
t $
Source: Miami-Dade Countv Proo€rW Appraise/s - 2013-averaqe.median-homestead-residential-values file
Non-Homesteaded Properties
The annual increase in market value of a non-homestead property is capped at 10 percent (does
not apply to school millages). The city-wide average increase in property values is 9.9 percent.
The property value of individual properties may increase more or less than 9.9 percent, but not
more than 10 percent.
H istorical Perspective
It is important to remember that in prior years, the City of Miami Beach significantly reduced tax
rates as property values increased. Between FY 1999/00 and FY 2OOgl10, property tax rates
declined approximately 2.8 mills. ln FY 2007108 alone, the property tax rate declined by
approximately 1.8 mills, with annual savings to the average homesteaded propertyof over$400. ln
addition, in FY 2005/06 and FY 2006107, the City funded $200 and $300 homeowner dividends
paid to homesteaded property owners in the City.
TOTAL COMBINED MILTAGE
8"m
cg s.@
!
E IIII Iffi
Although the City increased the operating tax rate by 0.56 mills in FY 2010111, the City has
decreased the millage by Q.4213 mills in the last four years and combined millage rates today
remain more than 2.6 mills lower, or 31 percent, than in 1999/00 and approximately 1 .6 mills lower
than in 200610T . As a result, the proposed propertv tax lew is approximatelv $13 million less in FY
2014/15 than it was in FY 2006/07.
89
FY 2014115 Final Millage
September 30,2014
PageT
Property Value, Millage, and Property Tax Levy
Ioxoble Volues
Chort
Iuoble Propertl
Volues {billions)
Finol,/Revised
Toxoble
Volues
Ihilli^"<l
Miilooe Rotes Tox Lew lin miliionsl
Totol Combined
Citywide
Gnerol
Fund,/RDl Totol Tox levy
includino Debt
Generol Fund
Totol
(including S.
Poinle, qnd
Renewol &
FY 1997 /98 $ 646 $ 640 9.2 r 00 7.4990 $ 57.a5 $ 4678
FY1998/99 $ 6.97 $ 6.87 8.9830 7.4990 $ 6037 $ 44.66
FYt 999/OO 7.66 b /.)4 8.6980 7.499|]$ 64.29 $ 47.36
FY2Crn,/Ot 837 s 822 8 5550 7 3994 $ 69.08 49 75
tY2C01/02 $ 9.40 $ e22 8.3760 7 ?aao $ 75Q7 54.37
FY2@2/O3 $0.56 $ r0.4r 8.3220 7.2990 $ 84 81 $ 6l05
FY2AX/O4 2.Cv)ll.85 8.1730 7.2990 $ 95.39 $ 68. t7
FY2Cc//05 AAA s t3 86 I 1730 7 4250 $10 74 79 38
FY265/06 $45 $ r7.r5 8 0730 7.48)O $35.91 $r.69
FY7Xh/07 $ 22.7a $ 22.2b 7.6730 7.3740 $68.38 $40.31
tY2A)7 /O8 26.84 $ ,6 1A 5.8970 5.655 $54.42 T 5 3l
FY2Cnq /Oa ?690 s 2.5 89 5 8930 5 6.5.55 $50 59 59A
FY2@9/1O $ 2470 $ 2324 5.9123 5.6555 $38 70 $57
r\2010/$22 t0 $ 2097 6.5025 6.2155 $36.55 $2.14
FY20t I 2 21 98 20.75 6 4539 6. I 655 34.75 1.29
FY2A12 3 $ 2307 $ 22.02 6 3477 6 0909 $39 tO 432
FY20r 3 A $ 24.66 $ 23.64 6.r r63 5.8634 $43.26 $7.41
tY201 4 5 27.10 6.0237 5.7942 $55.r0 $7.76
Overlapping Jurisdictional Operating and Debt Service Millages
City of Miami Beach property owners must also pay property taxes to Miami-Dade County, the
Miami-Dade County School Board, the Children's Trust, the South Florida Water Management
District, Okeechobee Basin, Everglades Project, and the Florida lnland NavigationalDistrict. These
taxing authorities represent 70 percent of a Miami Beach property owner's tax bill.
The countywide tax rate for Miami-Dade County decreased by 0.0345 mills to 4.6690; the library tax
rate increased 0.1 1 15 mills to 0.2840 mills; and the debt service millage increased 0.0280 mills to
0.4500 mills.
The tax rate for the Miami-Dade School District decreased slightly from 7 .9770 mills to 7.9740 mills.
oc
.9
o)J
xoF
!,oE3
EoO
240
220
200
180
160
140
120
100
30 Id1'of202
q)
co10:g
ooa
'07 '08 '09 '10 '11 '.12 '.13 '.14 ',15
w ppopsfiValues --r-Tax Levy including Debt
90
FY 2014115 Final Millage
September 30,2014
Page 8
The Children's Trust millage is maintained at 0.5000 mills. As a whole, the millage rates for the
South Florida Water Management District, Okeechobee Basin, Everglades Project, and Florida
lnland Navigational District decreased 0.0174 mills to 0.4187 mills.
With the final rates for FY 2014115, the Miami Beach portion of the FY 2014115 tax bill is
approximately 30 percent of the total bill. Of note. the Countv millaoe is 0.9830 mills lessthan their
mitlaqe in FY 2006/07. as compared to the Citv's final adopted millaoe which is 1.6493 mills less
than the Citv miilaqe in FY 2006/07. Further, the School Board millage is only minimally below the
FY 2006107 millage rate, despite the recently proposed decrease. The significant difference in the
total overlapping millage rate is a direct result of the City's effort to keep the millage rates as low as
possible. A summary of the tax rate changes is provided in the following table.
OVERTAPPING TA)( MIttAGE Ft06,107 Ft 7?lL4 ,Fr.;14J15
variance
trcmLill{
variance
lromO6lOl
t4lt5
Total
:itv of Miami Beach Millace Rates
Operating 7.192t 5.755 5:585 -0.069;-1.5061
Capital Renewal & Replacement 0.182t 0.108::g-i1!8:0.000(4.0731
Subtotal Operating Millage 7,3741 5.853 5t79/t -0.069:-1.s79I
voted Debt seruice 0.299r 0.252!,:,!AieEtl -0.023,4 {.069!
Tota 7.6711 6.116:6;623:-{r.Gr2(-1.649:3W
\4iami Dade Countv
Countwide 5.515r 4.7011 r[i669i -0.034!o.946(
Librarv 0.486r o.172!o.2f,,4l 0.111!4.202(
Debt Service 0.285r o.4221 :1;,fi:+SA 0.028(0.165(
Subtota 5.:'85(s.298r i:::l,5:{|]tjl 0.105(-0.983(279,
ichool Board 8.105t 7.9771 irs74 -0.003(-0.131(,99
Shildren's Trusl o.4221 0.500r o.5{r0 0.000(0.078(29
fther 0.736(0.rt45l r 0,418;-0.025I 4.3L74 2a
Tota 23.?221 20.336r :,,:at .t].:r,-0.ot7t -3.002(tw
lmpact of Gombined Tax Rates of Overlapping Jurisdictions on Homesteaded Properties
The median and average January 1,2013 taxable values of $132,371and $317,086, respectively,
will increase by 1 .5% CPI inFY 2014115 due to the Save Our Homes Cap which only allows taxable
values to increase by 3.0% or CPl, whichever is lower.
Applying the final combined millage rates to the median and average taxable values results in an
additional $38 for the median and a $92 increase for the average. These increases are mitigated
by no increase in property taxes for the median or the average from the reduction in millage in the
City of Miami Beach's portion of the property tax bill.
Median properties would pay approximately $2,729 for all taxing jurisdictions combined, while the
average taxes generated would be approximately $6,540 per homesteaded property. Of these
taxing jurisdictions, the highest component is the Miami-Dade School Board, at $1,071 for a
median value property, and $2,566 for an average valued property.
The following table provides examples of changes in property taxes for homesteaded properties
using the proposed tax rates and potential changes from 2013 values.
91
FY 2014115 Final Millage
September 30,2014
Page 9
lmpact on Homesteaded Properties Assuming
Chanoes in Taxable Value from Januarv l. 2014
FY 2013114
FY 20141'.t5
wlth 1.5% CPI
Median Average Median Average
l0l3 Preliminary Taxable Value $ 132,371 I 317,086 $ 134,357 J 321,U2
City of Miami Beach
Operating
Voted Debt
Total Miami Beach
Miami Dade County
Schools
Other
$ 776 $ 1,859
33 80
$ 778 $ 1,865
31 74
$ 809 s 1.939 $ 809 $ 1.939
701
1,056
125
1,680
2,529
300
726
1,O71
123
1,739
2,566
296
Tota $ 2.691 $6.448 $ 2.729 $6,540
lhanqe in Taxes
City of Miami Beach
Operating
Voted Debt
Total Miami Beach
Miami Dade County
Schools
Othsr
25
15
(21
59
37
(4"
Total $ 38$ 92
As with the City of Miami Beach millage rates, impacts of the combined jurisdictional millage rates
for non-homesteaded properties are based on the individual property values.
CONCLUSION
The Administration recommends adoption of the attached Resolution which adopts final operating
and debt service millage rates for FY 2014115.
LM/JW
@
92
RESOLUTION NO.
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA' ADOPTING: 1) THE FINAL AD VALOREM
MILLAGE OF 5.7942 MTLLS FOR GENERAL OPERATING PURPOSES,
wHrcH rs THIRTEEN AND FOUR-TENTHS PERCENT (13.4%) MORE THAN
THE "ROLLED-BACK" RATE OF 5.1076 MILLS; AND 2) THE DEBT SERVICE
MILLAGE RATE OF 0.2295 MILLS
WHEREAS, on July 23, 2014, the City Commission following a duly noticed public
hearing, adopted Resolution No. 2014-28674, which set the proposed general operating millage
rates at 5.8634 mills (excluding debt service) for general operating purposes, and 0.2295 mills for
debt service, a reduction of 0.0234 mills from the FY 2013114 debt service rate; and
WHEREAS, on August 29, 2014, the Finance and Citywide Projects Committee
recommended a reduction of the general operating millage rate of 0.0692 for a proposed general
operating millage rate at 5.7942 mills (excluding debt service), for a total reduction of 0.0926 mills
from the FY 2013114 rate for general operating purposes, and 0.2295 mills for debt service; and
WHEREAS, at the first public hearing on September 10, 2014, the Mayor and Commission
tentatively adopted the operating millage rate of 5.7942 mills for general operating purposes, and
0.2295 mills for debt service; and
WHEREAS, Section 200.065, Florida Statutes, requires that at the conclusion of the
second public hearing on the City's proposed tax rate and budget, the City Commission: 1) adopt
the final ad valorem millage rate for FY 2014115 operating purposes; and 2) the required Debt
Service millage rate; this is accomplished by adopting a Resolution that includes the percentage
increase or decrease over the "rolled-back" rate; and
NOW THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND THE CITY
COMMTSSION OF THE CITY OF MIAMI BEACH, FLORIDA, that pursuant to Section 200.065,
Florida Statutes, there is hereby levied a tax for FY 2014115, on all taxable and non-exempt real
and personal property located within the corporate limits of the City of Miami Beach, Florida, as
follows:
(a) For the purpose of operating the government of the City, the rate assigned
amounts to 5.7942 mills. Also included are appropriate reserves and
contingencies, which are not limited to reserves for tax discounts and
abatements of uncollected taxes.
The millage rate reflected is thirteen and four-tenths percent (13.4%) more
than the "Rolled-back" rate of 5.1076 mills.
(b) For the purpose of providing payment on the principal and interest
portions of the General Obligation Bond Debt outstanding, the rate
assigned amounts to 0.2295 mills.
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PASSED and ADOPTED this 30th day of September. 2014.
Rafael Granado, City CIerk
ATTEST:
Philip Levine, Mayor
APPROVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
Sr-D*p JUIL
-Gtv Attornev Date
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ltl*ltl t!-E?Nl?- l. l,llmlHg*l{,com i',i: THURS0AY, SEPTEMBER 18, 2014 |
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CITY OF MIAMI BEACH
NONCE OF PUBLIC HEARINGS
NOTICE lS HEREW given rhat Public Hearings will be held by lhe Mayor and City
Commission of ihe City of Miami Beach, Florida. in the Commission Chambers, 3rd
floor, City Hall, 1700 Convention Center Drive, Miami Beach, Florida, oo li.resday,
September 30, 2{N4, to consider the following:
5:0'l p.m.
Adopt Final AdValorem Millage for General Operating Purposes
A Resolution Adoptingi 1)The Final Ad Valorem Millage Of 5.7942 Mills For General
Operating Purposes.Which lsThi*een And Four-Tenths Percenl (13.4%) MoreThanThe
"Rolled-Back" Rare Of 5.1076 Mills;And 2)The Debr Service Millage Bate Of 0.2295 Mills
For FiscalYear {FY} 2014/15. lnquiries may be directed to the Eudget & Performance
I m prove m ent Office at 305.673.751 0.
5:0I p.m.
Adopt Final Budge{s For General. G.0.. HDA, Enterprise, lnternal Service,,And Special
Revenue Funds
A Resolution Adopting Final Budgets ForThe General, G.O. Debt Service, RDAAd
ValoremTaxes. Entarprise, lnternal Service Funds, and Special Revenue Funds For Fiscal
Year {FY} 201415 . lnquiries may be directed to the Eudget & Performance lmprovement
Oflice at 3A5.673.75 1 0-
5:02 p.m.
Adopt Final Ad Valorem Millage for Normandy Shores Locel Government
A Resolution OfThe Board Of Direaors OfThe Normandy Shores Local Government
Neighborhood lmprovemenl District AdoplingThe Final Ad Valorem Millage Rate Of
1.1305 Mills For FiscalYear {FY} 201415 ForThe Nqrrr}ardy Shores Local Government
District,Which ls One Percent {1%} LessThanThe'Folled-Back" Rale Of 1.1391 Mills.
lnquiries hay be directed to the Budget & Performance lmpravement Office at
305.67i.7510.
5:02 p.m.
Adopt Final Operating Budget For Normandy Shores Local Government
A Resolution OfThe Board Of Directors OfThe Normandy Shores Local Gsvemment
Neighborhood lmprovement District AdoptingThe Final Operating Budget For Fiscal
Year (FYl 2014/15. lnquiries may be directed to the Eudget & Performance lrnprovefient
Office at 305.673.7510.
5:(B p.m,
Adopt Final FY 2AM1E-2A18119 Capital lmprovement Plan & Capital Budgel
A Resolution Adepting The Final Capital lmprovement Plan For Fiscal Years (FY)
201411$.201S19 And AdoptingThe Cily Of Miami Beach Final Capital Budget For lFYl
2014/15. lnguiries may be directed to the Budget & Performance lmprovemeil Affice
at 305.673.7510.
lnterested parties are inyited to sppear atthis meeting, or be represented by an agent,
or to express their views in writing addressed to the City Commission, c/o the Ciiy
Clerk, 1700 Convenlion Center Orive. lst Floor, Ciry Hall, Miami Beach. Florida 33139.
Copies ofthese items are available for public inspection during normal business hours
in the City Clerk's Office, 1700 Convention Center Drive, lst Floor, City Hall, Miami
Bea*r. Florida 33139,This meeting, or aoy item therein, may be continued, and under
such circomstan6es, additional legal notice need n01 be provided.
Pursuant to Section 286.0105, Fla. Star.. the City hereby advises the public rhat if a
person decides to appeal any decision made by rhe City Commission wilh respect to
any matter considered at its meeting or its hearing, such person must ensure that a
verbalim record of the proceedings is made, whidl recsrd includes the t€stimony and
evidence upon which the appeaI is to be based.This nolice does not consiitute consenl
by the Ciry for the introduction or admission of otherwise inadmissible or irelevant
evidence. nor does it aulhorize drallenges or appeals not otheru,ise allowed by law.
To request this material in accessible format. sign language interpreters, information
on access for persons with disabilities and/or arry accommodation lo review any
document or panicipate in any Cily-sponsored proceeding, please contact us five days
in advance at 305-673.7411(voice) orTTY users may also call the Florida Relay Service
Rafael E. Granado, City Clerk
City of Miami geach
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